HighPoint Advisor Group LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,378 shares of the coffee company's stock after purchasing an additional 5,048 shares during the period. HighPoint Advisor Group LLC's holdings in Starbucks were worth $4,451,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Vanguard Capital Wealth Advisors bought a new stake in shares of Starbucks during the 4th quarter valued at $285,000. Czech National Bank grew its holdings in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Starbucks by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after buying an additional 3,130 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Stock Performance
Shares of NASDAQ SBUX traded down $1.14 during trading on Monday, hitting $92.66. The company had a trading volume of 7,208,590 shares, compared to its average volume of 10,663,048. The stock has a 50 day simple moving average of $90.22 and a 200 day simple moving average of $94.60. The firm has a market capitalization of $105.30 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 4.76 and a beta of 1.02. Starbucks Corporation has a 12 month low of $72.73 and a 12 month high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. As a group, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.
Starbucks Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio is currently 88.41%.
Analysts Set New Price Targets
SBUX has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Sanford C. Bernstein raised their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Stifel Nicolaus lifted their price target on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $98.58.
Get Our Latest Stock Report on SBUX
Starbucks Company Profile
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Free Report)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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